Hey Everyone!
I am posting this purely out of curiosity. I do not plan to start a dive operation any time soon. I would like to know what the foreseeable overhead cost would be for running a 6 pack boat. Let's say the dive sites are no more than 10 miles out. I know there are a ton of variables that would go into this I am looking for a rough estimate. What is a good margin for a dive charter to make? Just trying to learn a little bit about the business!
It's a great thing to analyze your costs and examine the market before you get in.
Now, and I'm not being snarky, but there are some things you need to know about the dive charter business. It doesn't matter what market research you do, or what amenities you offer, you have to undercut the competition on price or you won't get the first customer. Divers are exceptionally cheap, so what you find is that when you pay for your boat, insurance, gas, crew, and your profit, you will be about $15 a head over the next guy, and so you won't make a dime, because all of your clients will go to the next guy, unless you have a bang-up website, which may or may not cost you plenty too. So you have to cut costs somewhere, so the first thing you lose is the deckhand. But that isn't enough, so then you drop the insurance. Or you eat ramen for a while. Because it takes years to build a clientele and repeat business, and you get stabbed in the back by every newcomer who decides to make a living hauling divers.
I did it in Key West for 20 years. I made money at it, and I did it right, but it was a constant struggle and balancing act deciding which trips to run even though they would lose money, which trips to run as money makers even if the weather wasn't great, etc. I got to live in Key West, and I made $30,000 a year. I didn't do it to make money, but still, I am worth a lot more than that.
My advice is and will always be to charter someone elses boat. It pays way better.